You've spent a lot of time on the market trying different indicators and attempting to systematize online Forex trading. However, you cannot explain a reason of the most part of losses.
What to do? Search another trading system or leave? Doubts return – can one really earn doing trading online?
You have too many trading ideas. In trader's circles it is known as a "browbeat improvisation". Alexander Elder said: "In general, the worst that can happen to a beginner is the victory based on intuition." Why? Because it encourages and you continue to act randomly without even trying to stick to the plan.
Some say that practice is important, others advise to take a break. So, what do you do?
At this point, 70% of traders quit Forex because after a reckless experiment there is no more money left for the trial-and-error method. In the long run any loss is beneficial to a trader, except the one that leads to the loss of equity and compels to quit the market. Use a conservative trading strategy and move towards a goal in small steps to reduce a risk of total collapse.
Write down a locking price for a profit and stop loss prior to a trading session. Stick to the plan. Keep the position if analysis confirm earlier findings. Do not make a decision on the contrary to the logic of your plan “on the go”.
Our task as a broker to show that all professionals went through this step and therefore you can do it also. Take an advantage of additional training system. Give yourself time to rethink practical actions. As time passes you will look at these failures as at a decisive victories.
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